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[Editorial] China's big bet on chips

China has ratcheted up its plan to pour a massive amount of money into the semiconductor industry to better compete with the US. China’s aggressive move has alarmed South Korea, whose crucial chip industry is now stuck with a stalled bill and other troubling issues. China has set up its third state-backed investment fund valued at 344 billion yuan ($47.5 billion), marking the largest-ever fund aimed at strength...
Kyonggi Do South Korea Yoon Suk Yeol Samsung Electronics

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Goal is to close gap in relative prosperity

According to the International Monetary Fund, the per capita income of the United States at present is 6.5 times higher than that of China in nominal terms and 3.4 times higher in Purchasing Power Parity terms or after correcting for differences in the cost of living. The goal of China and the Chinese people is to close that gap in relative prosperity (in average real income per head) so that the Chinese people are able to realize their aspirations for a better life.
United States International Monetary Fund Purchasing Power Parity Plaza Accords East Asian South Korea

China Chipmakers Are Catching Up Fast in AI, SenseTime's Xu Says

(Bloomberg) -- China’s domestic AI chipmakers are making fast progress in closing the gap on international leaders, according to SenseTime Group Inc. co-founder Xu Bing.Most Read from BloombergIsraeli Airstrike, Egyptian Guard’s Death Ratchet Up TensionsWall Street Moves to Fastest Settlement of Trades in a CenturyFor Private Credit's Top Talent, $1 Million a Year Is Not EnoughMusk’s xAI Raises $6 Billion in Bid to Challenge OpenAICatering to the Ultra-Rich Is a Booming...
United States Li Qiang Bloomberg David Ingles Bloomberg Businessweek Xu Bing Sensetime Group Inc
Source: yahoo.com

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